Initial jobless claims fell 34,000 to 407,000 during the week ended November 20. This is the lowest count of initial jobless claims since July 19, 2008. The four-week moving average, at 436,000, is noticeably below 450,000, which has been the level around which initial jobless claims have been holding since April. Continuing claims, which lag initial claims by one week, fell 142,000 to 4.182 million. Unemployment insurance claims under special programs also dropped 262,000 for the week ended November 6 (see Chart 7). The decline in initial jobless claims suggests that labor market conditions are improving

Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com
Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.

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